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NEW DELHI: Shares of Hotel Leela surged over 7 per cent in early trade on Monday after ET reported that Brookfield Asset Management is in talks with lender JM Financial Asset Reconstruction Company for acquiring a stake in the debt-ridden hospitality chain.

“Three to four investors are in the fray. Brookfield is one of them. Nothing has been finalised yet,” Dinesh Nair, managing director at Hotel Leelaventure told ET.

The company on Saturday also said its shareholders have given their consent to sell the company's land in Pune to Leela Lace Holdings for a consideration of Rs 130 crore.

Consent of the members is hereby accorded to the board of directors of the company to sell 34,102 sq mtr of land owned by the company in Yerwada, Pune to Leela Lace Holdings Pvt Ltd, a related party, for a consideration of Rs 130 crore, Hotel Leelaventure said in a filing to the BSE.

The scrip was trading 7.34 per cent up at Rs 17.55 in opening trade, while the BSE Sensex was up 90 points at 38,735 at around 9.20 am (IST).